The Paluck Technologies IPO has seen massive demand, reaching 99.42 times subscription by the end of its second day. The Gurgaon-based company is raising Rs 33 crore via this BSE SME issue, which remains open for bidding until September 1, 2026.
Investor interest in the Paluck Technologies initial public offering (IPO) has surged, with the issue being subscribed 99.42 times by the close of the second day. The strong response reflects high appetite for the Gurgaon-based engineering and infrastructure firm, which is looking to raise Rs 33 crore through this fresh issue of shares.
The IPO is priced in the range of Rs 46 to Rs 48 per share, with a minimum lot size of 3,000 shares. Retail investors have shown notable interest, contributing to the high subscription figures alongside non-institutional and qualified institutional buyers. The total issue involves the issuance of 68.76 lakh fresh equity shares.
Paluck Technologies operates across several sectors, including engineering services, construction equipment rental, logistics, and telecom engineering. The company’s recent financial results show profit rising to Rs 9.6 crore for the year ended March 2025, a significant improvement from the Rs 3.4 crore profit reported in the previous period.
The company plans to use the money raised to support its operations and growth. About Rs 10 crore is set aside for buying new ready-mix concrete machinery and diesel generator sets, which the company states is necessary to meet updated environmental rules. Another Rs 10 crore will be used for working capital, while Rs 3.1 crore is earmarked for debt reduction.
While the subscription numbers are high, investors should consider certain business and compliance risks mentioned in the company’s offer documents. A key point for shareholders to note is that the company has reported the non-filing of certain statutory returns with the Registrar of Companies (RoC) for the past four years. Furthermore, the company has disclosed the absence of No Objection Certificates (NOCs) from certain financiers for its current operations. These factors, along with potential delays in project execution, rising competition in the logistics and rental sectors, and the cyclical nature of the infrastructure industry, are risks that could impact future performance.
The IPO will remain open for subscription until September 1, 2026. Shares are tentatively scheduled to list on the BSE SME platform on September 4, 2026. Investors may track the final subscription numbers and the company’s ability to resolve its pending regulatory and compliance matters post-listing.